I asked some good friends about this. They worked like half an hour on this and came to this conclusion:

"In the fourth month on day [something, can't be converted without knowing the year], I write [something they couldn't translate] in memory of Zhao Xi"

It seems to be very old Japanese with similarities to Chinese, therefore it's quite hard to translate.
The characters on the red ground are a name (白苟) and can mean basically everything, since it's unknown if he or she was Chinese, Japanese or even Korean.